HP Q2 23 – 30/05
The last 2 quarters have seen the HP share price undergo a decent recovery in the wake of its full year results back in November when the PC and hardware manufacturer announced the loss of 6,000 jobs over 3 years, due to a slowdown in the PC and laptops market. HP hasn't been alone in this regard with Dell also announcing similar reductions in headcount. Revenues have been in decline over the last few quarters with weak PC demand very much a headwind.
At the end of its last fiscal year annual revenues slowed to $62.98bn, with consensus for 2023 for this to slow to $55.2bn. In Q4 revenues came in at $14.8bn and slowed to $13.8bn in Q1 of this year, while profits came in slightly ahead of expectations at $0.75c a share. For Q2 the company was slightly more optimistic given the lifting of lockdowns in China, keeping its fiscal year 2023 guidance of full year adj.
EPS expected to come in between $3.20 and $3.60c a share. For Q2 profits are expected to remain steady at $0.76c a share, although revenues are expected to plunge from $16.49bn a year ago to $13.04bn, with computers and notebooks still forecast to be a drag.
![Turbulent Q2'23 Results for [Company Name]: Strong Exports Offset Domestic Challenges](https://www.fxmag.com/media/cache/main_box_filter/uploads/articles/2022-FXMAG-COM/GPWA/gpw-s-analytical-coverage-support-programme-wse-2-6311cd4191809-2022-09-02-11-30-41-63175bda84812-2022-09-06-16-40-26.png "Warsaw Stock Exchange: Brand24 (B24) - 1Q23 financial results")
![Turbulent Q2'23 Results for [Company Name]: Strong Exports Offset Domestic Challenges](https://www.fxmag.com/media/cache/article_small_filter/uploads/articles/2022-FXMAG-COM/GPWA/gpw-s-analytical-coverage-support-programme-wse-2-6311cd4191809-2022-09-02-11-30-41-63175bda84812-2022-09-06-16-40-26.png "Warsaw Stock Exchange: Brand24 (B24) - 1Q23 financial results")
